Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

The education sector proved to be a key target for threat actors in Q2 2024, particularly for ransomware groups. FOG ransomware was a significant threat to the sector this quarter, with clear seasonal cycles in incidents impacting educational institutions, possibly due to perceived reduction in IT staffing around the summer months or the belief that schools may be more likely to pay a ransom during peak periods.

In Q2 2024, the Kroll Cyber Threat Intelligence (CTI) Team observed an increase in activity around a new ransomware group named FOG. FOG was initially observed in May 2024, and since then has been heavily targeting higher educational institutions in the U.S. by exploiting compromised VPN credentials. Kroll's review of a recent FOG binary (1.exe) found no exfiltration or persistence mechanisms directly integrated.

In a security bulletin on February 19, ConnectWise announced critical vulnerabilities (CVE-2024-1708 & CVE-2024-1709) to its on-premises ScreenConnect product (identified and responsibly reported by one of Kroll’s SOC analysts), allowing attackers to takeover an organization’s ScreenConnect. The vulnerability, trivial to exploit, allows anonymous individuals to a create system admin account on publicly exposed instances of the product.

The concept of Software Bill of Materials (SBOM) has gained serious traction in recent years, emerging as a critical element of software security frameworks. SBOM refers to a comprehensive inventory of all the components and dependencies, or the software supply chain, that make up a software application. The influence of SBOM on modern software and application security programs is so compelling that government organizations like the U.S.

Between customer requirements, regulatory or legislative mandates and executive orders, incorporating strong security controls throughout the Software Development Lifecycle (SDLC) has become a central focus for development groups, leadership teams and governing bodies. However, regardless of external motivators, maintaining a secure SDLC also provides the developer tangible benefits regarding the health of the software by ensuring a meticulous focus on architecture and solid software-building practices.

The State of Cyber Defense: Manufacturing Cyber Resilience highlights the unique challenges the manufacturing industry faces and the key ways the industry can become more cyber resilient.

As cloud technologies continue to advance and more organizations shift toward cloud-based solutions, the need for stringent security measures has become increasingly vital. Effective cloud security not only protects sensitive data from unauthorized access and potential breaches, but also ensures the smooth functioning of cloud-based services.

CLEARFAKE is the term used to describe the malicious in-browser JavaScript framework deployed on compromised webpages as part of drive-by compromise campaigns to deliver information stealers. It has the potential to impact all sectors. Although the CLEARFAKE fake browser update campaign (which was initially identified in Q2 2023) originally targeted Windows users, it expanded to macOS users in Q4 2023.

The Digital Operational Resilience Act (DORA) comes into full effect on January 17, 2025, and aims to prevent and mitigate cyber threats by establishing a comprehensive ICT risk management framework for the EU financial industry. The new EU regulation seeks to ensure that financial institutions and critical ICT providers advance their cybersecurity and operational processes to safeguard their key systems, enhancing the industry’s operational resilience.

Note: Exploitation of this vulnerability remains highly likely, and Kroll experts are investigating. If further details are uncovered by our team, updates will be made to the Kroll Cyber Risk blog.